Global Light Emitting Diodes (LED) Market worth USD 28.89 billion in 2016 and expected to reach USD 71.35 billion by 2021, at a CAGR of 19.8% from 2016 to 2021.

Our industry experts anticipate that within the LED market, the ultraviolet LED is expected to be the fastest growing technology segment, growing at a CAGR ranging from 30% to 35% during the forecast period. In addition, the mobile device is expected to be the fastest-growing application segment, growing at a CAGR ranging from 20% to 25%. Asia-Pacific, on the other hand, is expected to be the fastest-growing geographic segment, growing at a CAGR of more than 25% by 2021.

KEY BENEFITS OF THE REPORT

In-depth analysis of the key factors are propelling the growth of the global market

Detailed analysis of the geographic region that will witness the strongest growth

Granular analysis of the current market scenario and the expected market grow

KEY PREMIUM INDUSTRY INSIGHTS

The longer life cycle of LED devices, decreasing cost of LED lamps and LEDs, increase in demand of energy conservation and trending energy efficient lifestyle, increasing display and large screen backlighting market.

Unlike incandescent bulbs and other emitting devices LEDs does not scatter harmful gasses which affect nature and have a better life span and are nature-friendly, this is some major reasons for the growing market trend towards LEDs.

However, huge initial investment in LED installations is expected to hamper the growth of LED market.

As all the incandescent bulbs are being replaced by LEDs, an increase in demand for general lighting and high efficacy of LEDs is expected to provide the significant growth opportunities to the LED market.

RESEARCH METHODOLOGY

The research methodology for Scalar Market Research’s LED market report utilizes a combination of top-down and bottom-up research formats. Our primary focus on continuous market tracking, rigorous fact-checking, data-triangulation, and multiple layers of quality control ensures high-quality data that can be leveraged for actionable research insights.